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Philadelphia Fed Manufacturing Index in the US and Retail Sales   in the UK and are the major market-movers. Let see what awaits us today.

In the US, Philadelphia Fed Manufacturing Index, based on a survey of manufacturers regarding trends in their business activities and growth a major indicator of business condition, rise of 1.5 points is expected now.

Later in the US, Existing Home Sales, a major annualized indicator of the economy’s strength. A reduction of 1.7% is likely to occur and 2% is forecasted now.

More in the US, Initial Unemployment Claims, a weekly report measuring the number of Americans filing new Unemployment Claims indicating the overall job market condition, 420 K is forecasted, while the Counting Unemployment Claims is expected to be 3.723 million.

For more on USD/CAD, read the  Canadian dollar forecast.

In Europe, Jean-Claude Trichet, President of the European Central Bank is due to deliver a speech.

For more on the Euro, read the  EUR/USD forecast.

In Great Britain, Retail Sales, report major indicator of consumer spending, 1.1% is expected on the monthly report and 2.5% on the yearly.

Read more about the Pound in the  GBP/USD forecast.

In Switzerland, ZEW Survey – Expectations, (Zentrum für Europäische Wirtschaftsforschung), survey to measure business situations, work conditions and other essentials affecting the business development in Switzerland. 8.8 points are forecasted now.

For more on the Aussie, read the  AUD/USD forecast.

In New Zealand, Visitor Arrivals, yearly tourism indicator that measures the number of people arriving to New Zealand. -11.4% is expected now.

In Japan, Industrial Production, Measures changes of output in mining, manufacturing, construction and energy sectors in Japan a strong indicator of industrial conditions. 1.8% is expected on the monthly level and 2.6% on the yearly.

More in Japan, Capacity Utilization Rate or operating rate exemplifying a percentage out of the 100% of potential output if the rate of production nears full capacity inflation rises. 2.9% is expected now.

That’s it for today. Happy forex trading!